Monoprix and the Zouari family plan to franchise 27 Monop' stores
Monoprix, a Casino Group brand, and the Zouari family plan to franchise in the Joint Venture common to Monoprix and the Zouari family, 27 Monop' stores in Paris and the Île-de-France region. This transaction is part of Monoprix's strategy to step up sales momentum in its network and accelerate its development with the support of a long-standing partner.
The project includes a renovation plan to bring the stores up to the latest Monop' concept standards. Jobs will not be affected and maintained.
The transaction is expected to be completed after prior consultation with employee representative bodies, in accordance with applicable legal provisions, and is subject to approval by the French Competition Authority.
Philippe Palazzi, Chief Executive Officer of Casino Group and Chairman of Monoprix, said: "This partnership is fully in line with our strategy of revitalising our store network and developing the franchise model. With the support of a strategic, long-standing partner like the Zouari family, we will be able to modernise our network faster and strengthen our appeal in city centres."
About Monoprix
Monoprix is a Casino Group brand that has been transforming urban convenience retailing for over 90 years. Its 17,000 employees ensure the day-to-day operation of a robust network of 625 stores in the heart of towns and cities, and an e-commerce site, monoprix.fr. From textiles and home goods to leisure products and food, the brand offers a unique retail concept that enables its customers to find everything they need at any time of day. In 2023, the banner reported net sales of €4 billion. For more information, visit entreprise.monoprix.fr.
This announcement is for information purposes only, in accordance with currently applicable laws and regulations, and does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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